The average tax article on the Internet makes broad generalized claims without citing any sources. That’s why we decided to write our take on IRS rules.
Here are clear discussions of what the actual Internal Revenue Code (IRC) or IRS rulings say with regards to various tax topics.
No one approaches financial planning with the goal of paying more taxes. Tax management, like all financial planning, is based on the premise that small changes made over time can achieve big goals.
A shortage of people are buying real estate and we’ve passed a one-per-customer tax incentive law.
Free markets are under assault in America. We have seen much hyperbole and slander in these past two years of political polarization. But the idea of capitalism and free markets has received more negative campaigning and vicious attack than both candidates combined.
Tax rebate stimulus checks are a cheap and inefficient gimmick.
The correct rate for the capital gains tax is zero, zip, nada. Perhaps it is even negative!
Use a 529 college savings account to save for college.
Below the line deductions are uncertain. Like many items in the tax code the correct answer to “Will they reduce my taxes?” is: “It depends.”
As Glinda advises us, “It’s always best to start at the beginning,” and at the beginning of the tax return is determining your filing status.
Most Americans look backward and only hope that Uncle Sam will return some of what they have already paid, but those with wealth look ahead and adjust their affairs according to the tax code.
Anyone of us could design a better system, but 500 congress people cannot resist the pressure groups who want to twist the code to benefit their particular constituencies.